What Happened to Kitsons After Shark Tank India?

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What is Kitsons?

Kitsons is a one-stop solution for everyone. It has books, arts & crafts, toys, stationery, party materials etc. Kitsons has 20,000+ SKUs. All the toys in Kitsons are made in India.

It also has ERP software. It doesn’t have any return or exchange policy.

Who is the Founder of Kitsons?

Lt Col Y Rajasekhar Reddy is the founder of Kitsons. Rajasekhar Reddy is a civil engineer & army person. He took premature retirement from the Army in 2007. He served the country for 22 years.

Shubhankar Y & Abhishek Y are his two sons. Both Shubhankar & Abhishek are engineers.

Abhishek worked at Accenture before. Now he looks after the operations.

Shubhankar previously worked in Byjus. Recently he joined the company as an intern.

Kitsons Before Shark Tank India?

Rajasekhar Reddy started the business in 2010. The name Kitsons came from his 2 son’s name. The business has been growing ever since.

He wanted to open 20 company-owned stores & 80 franchises. A lot of people have shown interest in their franchises.

How much money did they ask for on the pitch?

They came to Shark Tank India seeking ₹10 Crores for 10% equity in their company Kitsons. Which gives the company a valuation of ₹100 Crores.

How much money did he raise for Kitsons?

He didn’t raise any money for the company. He invested ₹42 Lakhs of his own money to run it initially. Among that ₹42 Lakhs, ₹35 Lakhs was his retirement money.

How to get Kitsons products?

There are 7 stores in Hyderabad. All the Kitsons stores are individually profitable. CapEx per shop is ₹70 Lakhs.

Unit Economics of Kitsons

Gross margin35%
Net margin17%

What are the Annual Sales of Kitsons?

Fiscal YearAnnual Sales
2019 – 2020₹5.7 Crores
2020 – 2021₹4.3 Crores
2021 – 2022₹6.3 Crores
2022 – 2023₹11 ~ ₹12 Crores Projected

Which shark gave Kitsons an offer?

Namita Thapar was out. She thought the business could not scale in pan India. That’s why she didn’t give any offer.

Vineeta Singh was out. She thought competing with Amazon could be tough for retail businesses like this.

Peyush Bansal was out. He thought nowadays a business couldn’t become huge without an online presence. Currently, Kitsons doesn’t have any presence online.

Anupam Mittal was out. He didn’t see the brand going online anytime soon. Also, he didn’t know any way to help them grow their business. That’s why he was out.

Aman Gupta was out. He didn’t find the 2 sons fully committed to the business.

What deal did Kitsons get in Shark Tank India?

Kitsons didn’t get any deal in Shark Tank India.

Company Name Kitsons
Founder Lt Col Y Rajasekhar Reddy
Asked Amount ₹10 Crores for 10%
Final Deal No Deal
Shark No Shark
Company Net Worth ₹100 Crores
Company Website kitsons.in
Company Status In Business

What is the net worth of Kitsons?

The net worth of Kitsons is ₹100 Crores according to the founders.

Is Kitsons still in Business?

Yes, Kitsons is still in the retail business.

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